Golden State Equity Partners Boosts Stake in McKesson Corporation $MCK

Golden State Equity Partners lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 116.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,009 shares of the company’s stock after buying an additional 1,081 shares during the period. Golden State Equity Partners’ holdings in McKesson were worth $1,552,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCK. Guyasuta Investment Advisors Inc. purchased a new stake in McKesson during the 3rd quarter valued at about $209,000. Salomon & Ludwin LLC boosted its position in McKesson by 193.3% in the third quarter. Salomon & Ludwin LLC now owns 88 shares of the company’s stock valued at $65,000 after buying an additional 58 shares during the last quarter. Moody Aldrich Partners LLC increased its holdings in McKesson by 17.3% in the 3rd quarter. Moody Aldrich Partners LLC now owns 353 shares of the company’s stock worth $273,000 after buying an additional 52 shares during the period. Accurate Wealth Management LLC increased its holdings in McKesson by 463.6% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,928 shares of the company’s stock worth $3,071,000 after buying an additional 3,231 shares during the period. Finally, Miracle Mile Advisors LLC raised its position in McKesson by 114.1% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,933 shares of the company’s stock worth $1,493,000 after buying an additional 1,030 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.9%

MCK stock opened at $820.18 on Friday. McKesson Corporation has a 52-week low of $565.75 and a 52-week high of $895.58. The firm has a market cap of $101.23 billion, a P/E ratio of 25.53, a PEG ratio of 1.35 and a beta of 0.41. The company’s 50-day simple moving average is $833.25 and its 200-day simple moving average is $758.34.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.McKesson’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.07 EPS. On average, analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCK. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Mizuho upped their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Jefferies Financial Group increased their price target on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research note on Monday. Finally, UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $892.86.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.